New York State Housing Finance Agency to sell $150 million in state personal income tax bonds Wednesday

By Sheri Kasprzak

New York, June 3 - The New York State Housing Finance Agency plans to price $150 million in series 2008 state personal income tax revenue bonds on Wednesday, according to a calendar of upcoming deals.

Of the bonds being sold, $39 million are taxable.

The bonds (Aaa/AA-/) will be sold on a negotiated basis with Citigroup Global Markets as the lead manager.

The bonds are due from 2018 to 2038.

The agency also intends to remarket $80 million in series 2005C state personal income tax revenue bonds on June 19. The bonds, when remarketed, will initially bear interest at the weekly rate, but may be converted to the daily, monthly, quarterly or adjustable modes.

JPMorgan is the remarketing agent for the 2005C bonds.

Proceeds from the deal will be used to repay the state for amounts advanced to finance various housing assistance programs administered by public benefit corporations of the state.

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